Filing Flows › Intuitive Surgical (ISRG) › Q4 2025
Intuitive Surgical (ISRG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 3, 2026
Intuitive Surgical (ISRG) reported revenue of $2.9B for the fourth quarter 2025 (Q4 2025), +19% from a year earlier and +14% from the quarter before. Operating margin was 30.2%, net earnings $795M (27.7% of revenue).
Intuitive Surgical, Q4 2025: revenue $2.9B (+19% year over year), operating margin 30.2%, net earnings $795M, operating cash flow $892M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +14% | +19% |
| Gross profit | $1.9B | +15% | +16% |
| Operating profit | $864M | +14% | +18% |
| Net earnings | $795M | +13% | +16% |
| Operating cash flow | $892M | +6% | +8% |
| Free cash flow | $730M | -0.8% | +43% |
What changed
Revenue was $2.9B in Q4 2025, up 19% year over year and up 14% from the previous quarter. Instruments and accessories was the largest line at 58% of revenue.
Gross margin was 66.4%, down 1.6 points from a year earlier. Operating profit was $0.86B, a 30.2% margin (down 0.3 points year over year). Of the extra revenue versus a year earlier, 29% reached operating profit, below the 30% margin then. Operating expenses grew 15% against revenue growth of 19%. The fastest-growing cost line was Research & development (+20%). Net earnings were $0.79B, up 16% year over year. The effective tax rate was 16.3%.
Operating cash flow was $0.89B (up 8% year over year), 112% of net earnings. Non-cash charges added back $0.20B of share-based compensation. Working capital and other items used $0.11B. Capital expenditures of $0.16B left free cash flow of $0.73B.
Questions
What was Intuitive Surgical's revenue in the fourth quarter 2025?
Intuitive Surgical (ISRG) reported revenue of $2.9B for the fourth quarter 2025 (Q4 2025), +19% from a year earlier and +14% from the quarter before.
Was Intuitive Surgical profitable in the fourth quarter 2025?
Operating profit was $864M (30.2% of revenue) and net earnings $795M.
Source: Intuitive Surgical 10-K on SEC EDGAR.